Exeter Fund Managers is offering an Isa designed to appeal to any investor, no matter what their age or investment expectations.
The Chameleon Lifestages Isa allows investors to choose from nine unit trusts designed to suit their investment requirements at different stages of their life.
Stage one of the Lifestage Isa is aimed at younger investors looking to achieve long-term capital growth. Stage two is designed to provide lower-risk capital growth to protect existing portfolios.
Stage three aims to provide investors the opportunity to adjust their portfolio in preparation for retirement by switching to income-producing funds or by diversifying their holdings.
Stage four aims to supplement an investor's income during retirement through inv- esting in income funds.
The range of funds on offer includes the Exeter managed growth, capital growth, zero preference and high-income unit trusts.
The managed growth fund is a fund of funds investing in 23 investment houses, including Merrill Lynch, Schroders, Perpetual and Jupiter.
Minimum monthly investment is £40 and lump sum £500. Investors can make up to three free switches.
Initial commission is 3 per cent with 0.5 per cent trail. Charges range from 5 per cent on equity funds to 4 per cent on fixed interest. Annual charges range from 0.5 per cent to 1.5 per cent.
Marketing manager Philip Thitchener says: “By drawing investors' attention to investment life stages, the process of selecting an Isa is simplified.
“The Isa market currently offers a bewildering array of themes, discounts and promotions that will confuse investors rather than help them make considered investment choices.”